Enegi Oil soars on encouraging exploration

Shares in Enegi Oil closed up by 4.55 per cent in trading yesterday, as it reported there was more shale gas at its Clare Basin site in southern Ireland than it first thought. As a result, it has asked consultancy Fugro Robertson to undertake further testing on the site. Meanwhile, the oil firm, whose main operations are in Canada and Ireland, appointed Derek Cochrane, current non-executive director, to the role of chief operating officer with immediate effect.